【Press Release】Friends of the Earth (HK) Response to the 2024 Policy Address: Accelerating climate action for a sustainable future
Friends of the Earth (HK) Response to the 2024 Policy Address:
Accelerating climate action for a sustainable future
(Hong Kong, 16 October 2024) The Chief Executive announced the "2024 Policy Address” today. Friends of the Earth (HK) welcomes plans to earmark $750 million to subsidise electric taxi and franchised bus purchases and support trials of hydrogen fuel cell heavy vehicles. The decisions to set a sustainable aviation fuel (SAF) consumption targetfor reducing emissions and to establish a common legislative framework for the producer responsibility schemes to promote circular economy are welcomed as well. That said, it is regrettable to see a lack of climate mitigation and adaptation policies, despite extreme weather becoming more frequent and severe under climate change. The government must accelerate climate action and implement aggressive emission reduction strategies to make Hong Kong a climate-resilient and liveable city.
Friends of the Earth (HK) strongly urges the government to adopt the following recommendations:
Regional Collaboration
- Decarbonising the energy sector to mitigate climate change: Hong Kong should realise its green finance hub ambitions by accelerating decarbonisation efforts. The city should foster stronger collaboration with the Greater Bay Area and the Mainland to finance renewable energy projects and import clean energy. Additionally, it should support the development of alternative energy options like green hydrogen, ammonia, and methanol and SAF.
- Achieving resource efficiency with circular economy: Hong Kong should align with China’s circular economy policy, reconnecting channels to facilitate recycling. The city should also strengthen research collaboration with the Mainland’s research institutes to develop sustainable materials and move away from low-value recyclables like plastics.
Green Buildings and Energy Use
- Enhancing building performance with stronger regulations: Buildings are the biggest contributor to local greenhouse gas emission. Hong Kong has to ensure building codes and regulations incorporate the latest green building practices and nature-based solutions. The city also needs to shorten gaps between energy audit reviews, mandate the adoption of energy management opportunities and IAQ, and incentivise the retrofitting of ageing buildings.
Scheme of Control Agreements (SCAs)
- Reviewing the SCAs to unlock renewable energy: Hong Kong has missed opportunities to develop renewable energy with the SCAs, enabling the continued burning of fossil fuels. The city should begin reviewing the SCAs for 2033 to liberalise the electricity market, creating opportunities for new competition, technologies and sustainable renewable energy.
Climate Adaptation and Response
- Strengthening resilience against extreme weather: Human-induced climate change is exposing us to stronger and deadlier extreme weathers such as heatwaves and rainstorms. Hong Kong has to conduct climate risk assessments and strengthen climate resilience to address areas of vulnerabilities. The city must establish a climate change authority to better coordinate climate strategies and response.
Transport Strategy and Pedestrianisation
- Accelerating the path to sustainable mobility: Hong Kong must expedite the transition to zero-emission transport by setting a clear timeline to phase out traditional ship engines and increasing the adoption of SAF. The city also should strengthen walking, cycling and other sustainable transport modes to reduce the role of private cars in its long-term road transport strategy.
Green Technology
- Financing and supporting green technology: Green technology is gaining momentum as demand to address environmental challenges grows. Hong Kong should leverage its financial resources to support innovation and development in the green technology industry. The city also should encourage investment in green technology projects and startups to drive sustainable development.
Green Finance
- Leveraging Continuing Education Fund to strengthen Hong Kong’s green talent pipeline: To nurture multi-disciplinary green talents, Hong Kong should extend the Continuing Education Fund to cover all eligible sustainability courses under the Pilot Green and Sustainable Finance Capacity Building Support Scheme.
- Promoting taxonomy equivalence in Hong Kong: Taxonomy equivalence can help to reduce compliance costs for investors and industries, while providing clearer guidance and oversight for regulators. Hong Kong should take a proactive role in promoting taxonomy equivalence for a more transparent, efficient, and collaborative green finance ecosystem, solidifying its position as a leading hub for sustainable finance.
- Development of an integrated platform for identifying and assessing climate-related risks: Climate change poses significant risks to financial stability and economic development. Hong Kong should establish a climate risk assessment platform, with appropriate funding, to be empowered to lead on all works related to physical risks, adaptation and resilience. This platform can provide oversight of adaptation work across all government bodies, ensuring a comprehensive approach to adaptation planning and financing.
Hong Kong's climate ambitions fall short of its potential as a world-class international city. To truly embody a zero-carbon, climate-resilient future, the government must proactively address climate change, accelerate decarbonisation efforts, and strive to achieve carbon neutrality before 2050.